KPRX Kiora Pharmaceuticals, Inc. - Common Stock
$2.54
Price · Aug 19, 2026
Fundamentals as of Aug 7, 2026
52W Range
$2–$3
65% of range
Analyst Rating
BUY
7 analysts
Price Target
$12
+372% upside
P/E (TTM)
-1.0
ROE
-56.6%
Net Profit Margin
—
KPRX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.54
Market Cap
$10M
P/E (TTM)
-1.0
EPS (TTM)
$-2.64
Revenue (TTM)
$0
Div Yield
—
ROE
-56.6%
Debt/Equity
—
52W Range
$2 – $3
KPRX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$0
2016-12-31
→
2025-12-31
EPS
$-2.64
2020-12-31
→
2025-12-31
Free Cash Flow
$-10M
2017-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
KPRX
Peer Median
P/E (TTM)
-1.0
44.2
P/B
0.6
2.1
Price / FCF
-0.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
KPRX
Peer Median
ROA
-35.7%
-49.9%
ROE
-56.6%
-51.4%
ROIC
-71.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
KPRX
Peer Median
Current Ratio
6.0
3.7
Quick Ratio
5.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
KPRX
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
KPRX
Peer Median
KPRX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
7 analysts
- Strong Buy 2 28.6%
- Buy 4 57.1%
- Hold 1 14.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
1 analysts · 2026-08-15
Low
$12.00
High
$12.00
Median target
$12.00
+372.4%
Mean target
$12.00
+372.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.34 | $-0.63 | 0.29% |
| March 31, 2026 | $-0.58 | $-0.72 | 0.14% |
| Dec. 31, 2025 | $-1.59 | $-0.68 | -0.91% |
| Sept. 30, 2025 | $0.01 | $-0.75 | 0.76% |
| June 30, 2025 | $-0.54 | $-0.62 | 0.08% |
| March 31, 2025 | $-0.52 | $-0.68 | 0.16% |
| Dec. 31, 2024 | $-1.04 | $-0.56 | -0.48% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| KPRX | $7M | -0.7 | — | — | -56.6% | — |
| COCP | $14M | -1.3 | — | — | -151.4% | — |
| HIND | $20M | -0.7 | 24.4% | -3209.7% | -411.1% | 68.4% |
| DARE | $28M | -1.6 | 10429.4% | -1300.7% | 270.9% | — |
| ADIL | $244.4K | -0.0 | — | — | -146.8% | — |
| TRAW | — | 1.4 | 1134.5% | — | — | — |
| CNSP | — | -0.1 | — | — | — | — |
| LLY | — | 46.8 | 44.7% | 31.7% | 101.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $16M | $0 | · | $0 | $12.1K | $3M | $2M | $407.5K | $669.3K | $0 | |
| R&D Expense | $11M | $8M | $4M | $3M | $5M | $4M | $5M | $8M | $10M | $8M | $3M | |
| SG&A Expense | $6M | $6M | $5M | $8M | $5M | $5M | $4M | $4M | $5M | $6M | $4M | |
| Operating Expenses | $13M | $12M | $13M | $12M | $14M | $7M | $10M | $12M | $15M | $14M | $7M | |
| Operating Income | $-13M | $5M | $-13M | $-12M | $-14M | $-7M | · | $-11M | · | · | · | |
| Interest Expense | · | · | $11.1K | $8.6K | $6.9K | $4.2K | $325 | $1.0K | $1.2K | $275 | $2M | |
| Interest Income | $894.0K | $1M | $174.0K | $56.9K | $1.1K | $23.3K | $108.1K | $120.4K | $564 | $3.7K | $947 | |
| Other Non-op | $-160.3K | $26.1K | $28.8K | $-14.5K | $272.5K | $19.2K | $107.7K | $119.3K | $-651 | $3.4K | $10 | |
| Pretax Income | $-12M | $6M | $-12M | $-14M | $-14M | $-7M | $-7M | $-11M | $-15M | $-13M | $-8M | |
| Income Tax | $-1M | $2M | $90.3K | $-113.0K | $-192.6K | $12.1K | $95.4K | $86.0K | $-1M | $0 | · | |
| Net Income | $-11M | $4M | $-13M | $-14M | $-14M | $-7M | $-7M | $-11M | $-13M | $-13M | $-8M | |
| EPS (Basic) | $-2.60 | $0.93 | $-24.25 | $-18.55 | $-57.12 | $-1.49 | · | · | · | · | · | |
| EPS (Diluted) | $-2.64 | $0.87 | $-24.25 | $-18.55 | $-57.12 | $-1.49 | · | · | · | · | · | |
| Shares (Basic) | 4,166,692 | 3,872,644 | 538,007 | 732,303 | 241,099 | 4,591,491 | · | · | · | · | · | |
| Shares (Diluted) | 4,103,873 | 4,125,075 | 538,007 | 732,303 | 241,099 | 4,591,491 | · | · | · | · | · | |
| EBITDA | $-13M | $5M | $-13M | $-12M | $-14M | $33.4K | $51.7K | $-11M | $19.3K | $5.2K | $1.3K |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9M | $4M | $2M | $6M | $8M | $1M | $4M | $8M | $8M | $4M | $8M | |
| Short-term Investments | $8M | $23M | $0 | · | · | · | · | · | · | · | · | |
| Receivables | $2M | $601.2K | $0 | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $1M | $2M | $233.4K | $343.1K | $606.5K | $449.6K | $458.8K | $455.8K | $629.6K | $465.0K | $122.4K | |
| Current Assets | $22M | $30M | $5M | $8M | $9M | $2M | $4M | $8M | $8M | $4M | $9M | |
| PP&E (Net) | $91.7K | $5.2K | $8.1K | $55.2K | $74.0K | $30.6K | $16.8K | $43.5K | $55.8K | $38.0K | $0 | |
| PP&E (Gross) | $117.6K | $6.3K | $14.4K | $172.5K | $187.1K | $123.5K | $99.6K | $99.6K | $79.6K | $42.6K | $268.1K | |
| Accum. Depreciation | $25.9K | $1.0K | $6.3K | $117.3K | $113.1K | $93.0K | $82.7K | $56.1K | $23.8K | $4.5K | $268.1K | |
| Goodwill | · | · | · | $0 | $0 | $4M | $2M | $2M | $2M | · | · | |
| Intangibles | $2M | $7M | $9M | $11M | $11M | $10M | $4M | $4M | $4M | · | · | |
| Other Non-current Assets | $59.7K | $24.9K | $40.8K | $33.0K | $43.0K | $57.1K | $69.4K | $31.7K | $307.1K | $55.3K | $38.6K | |
| Total Assets | $24M | $36M | $14M | $19M | $20M | $15M | $10M | $14M | $14M | $10M | $10M | |
| Accounts Payable | $1M | $415.6K | $206.3K | $1M | $160.6K | $434.8K | $210.3K | $63.7K | $706.1K | $1M | $417.7K | |
| Accrued Liabilities | $2M | $5M | $1M | $2M | $1M | $1M | $1M | $1M | $2M | $2M | $1M | |
| Short-term Debt | · | · | · | · | · | $212.3K | · | · | · | · | · | |
| Current Liabilities | $4M | $6M | $2M | $3M | $2M | $2M | $1M | $4M | $15M | $7M | $3M | |
| Capital Leases | $203.8K | $33.8K | $59.8K | $0 | $90.6K | $35.6K | $0 | $0 | $4.9K | $16.1K | $0 | |
| Deferred Tax | $102.2K | $490.7K | $779.4K | $689.1K | $802.1K | $728.9K | $365.4K | $270.0K | $183.9K | $2M | $0 | |
| Total Liabilities | $8M | $11M | $8M | $7M | $6M | $6M | $3M | $5M | $16M | $10M | $3M | |
| Total Debt | · | · | · | · | · | $278.2K | · | · | · | · | · | |
| Common Stock | $275.3K | $267.7K | $77.1K | $18.0K | $3.2K | $55.6K | $40.8K | $30.4K | $172.6K | $101.3K | $76.6K | |
| Paid-in Capital | $170M | $169M | $153M | $146M | $136M | $117M | $107M | $102M | $90M | $78M | $71M | |
| Retained Earnings | $-154M | $-143M | $-147M | $-134M | $-121M | $-107M | $-100M | $-93M | $-92M | $-79M | $-65M | |
| AOCI | $-246.1K | $-282.2K | $-182.8K | $-182.7K | $-86.4K | $-802 | $139.5K | $134.3K | $127.5K | $120.2K | $114.8K | |
| Stockholders' Equity | $16M | $26M | $6M | $11M | $15M | $10M | $7M | $9M | $-2M | $-329.4K | $6M | |
| Liabilities + Equity | $24M | $36M | $14M | $19M | $20M | $15M | $10M | $14M | $14M | $10M | $10M | |
| Shares Outstanding | 3,761,739 | 3,000,788 | 856,182 | 1,796,472 | 316,599 | 5,556,394 | 4,077,755 | 3,038,592 | 17,257,255 | 10,130,883 | 7,657,287 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $24.8K | $19.2K | $51.8K | $41.6K | $45.3K | $33.4K | $51.7K | $38.5K | $19.3K | $5.2K | $1.3K | |
| Stock-based Comp | $900.2K | $656.6K | $754.9K | $462.4K | $842.5K | $723.9K | $852.2K | $875.3K | $870.3K | $511.0K | $1M | |
| Deferred Tax | · | · | $90.3K | $-113.0K | $-192.6K | $-12.1K | $-95.4K | $-86.0K | $1M | $0 | · | |
| Amort. of Intangibles | $0 | $15.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $6.2K | $0 | · | · | |
| Other Non-cash | $-51.1K | $4M | $2M | $3M | $2M | $29.6K | $-2M | $-860.8K | $7M | $4M | $3M | |
| Operating Cash Flow | $-10M | $9M | $-10M | $-10M | $-11M | $-7M | $-8M | $-11M | $-6M | $-8M | $-4M | |
| CapEx | $110.8K | $6.3K | $0 | $0 | $63.9K | $20.1K | $0 | $20.0K | $37.0K | $0 | · | |
| Investing Cash Flow | $14M | $-23M | $0 | $6.4K | $-157.0K | $-244.4K | $0 | $-270.0K | $-37.0K | $174.7K | · | |
| Debt Issued | · | · | · | · | $0 | $278.2K | $0 | · | · | · | · | |
| Net Debt Issued | · | · | · | · | $0 | $278.2K | · | · | · | · | · | |
| Stock Issued | · | · | · | $5M | $18M | $5M | $2M | $10M | $11M | $4M | $14M | |
| Net Stock Activity | · | · | · | $5M | $19M | $5M | $2M | $10M | $12M | $4M | · | |
| Financing Cash Flow | $265.7K | $15M | $6M | $9M | $18M | $5M | $4M | $11M | $11M | $3M | · | |
| Net Change in Cash | $5M | $1M | $-4M | $-2M | $7M | $-3M | $-4M | $198.2K | $4M | $-5M | $8M | |
| Taxes Paid | $2M | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-10M | $9M | · | $-10M | $-11M | $-7M | · | $-11M | $-7M | · | · | |
| Levered FCF | · | · | · | $-10M | $-11M | $-7M | · | $-11M | $-7M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | 28.1% | · | · | · | · | · | -656.2% | · | · | · | |
| Net Margin | · | 22.4% | · | · | · | -67102.9% | -264.2% | -654.2% | -3243.5% | -1993.8% | · | |
| Pretax Margin | · | 35.3% | · | · | · | -67002.9% | -260.7% | -649.0% | -3572.8% | -1993.8% | · | |
| EBITDA Margin | · | 28.3% | · | · | · | 277.0% | 1.9% | -653.9% | 4.7% | 0.77% | · | |
| ROA | -35.7% | 14.3% | -77.3% | -70.0% | -77.7% | -64.0% | -58.2% | -75.6% | -110.0% | -138.7% | -153.7% | |
| ROE | -56.6% | 12.9% | -176.1% | -123.9% | -78.5% | -124.9% | -119.9% | -107.9% | 1171.6% | -463.5% | 41.2% | |
| ROIC | -71.2% | 11.1% | -207.5% | -107.0% | -96.3% | · | · | -122.3% | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.0 | 4.9 | 2.9 | 2.3 | 5.6 | 1.0 | 3.1 | 2.2 | 0.6 | 0.6 | 2.8 | |
| Quick Ratio | 5.1 | 4.6 | 1.5 | 1.8 | 4.9 | 0.7 | 2.7 | 2.1 | 0.5 | 0.5 | 2.5 | |
| Debt / Equity | · | · | · | · | · | 0.0 | · | · | · | · | · | |
| LT Debt / Equity | · | · | · | · | · | 0.0 | · | · | · | · | · | |
| Interest Coverage | · | · | -1130.7 | -1431.5 | -2077.9 | · | · | -10427.6 | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.6 | · | · | 0.0 | 0.0 | 0.2 | 0.1 | 0.0 | 0.1 | · | |
| Receivables Turnover | 0.0 | 53.3 | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $16M | $0 | $0 | $0 | $12.1K | $3M | $2M | $407.5K | $669.3K | $0 | |
| Net Income TTM | $-11M | $4M | $-13M | $-14M | $-14M | $-7M | $-7M | $-11M | $-13M | $-13M | $-8M | |
| Market Cap | $7M | $10M | $36M | $55M | $6.88B | $9.86B | $14.71B | $109.97B | $99.71B | $89.17B | $113.30B | |
| Enterprise Value | · | · | · | · | · | $9.86B | · | · | · | · | · | |
| P/E | -0.7 | 3.8 | -0.2 | -1.7 | -9.5 | -1191.1 | · | · | · | · | · | |
| P/S | · | 0.6 | · | · | · | 817770.0 | 5476.3 | 66544.7 | 244682.2 | 133239.9 | · | |
| P/B | 0.5 | 0.4 | 5.9 | 4.9 | 472.2 | 1408.9 | 2221.1 | 12305.6 | -51747.0 | -270693.2 | 18613.7 | |
| P / Tangible Book | 0.5 | 0.5 | · | 83.5 | 1806.4 | · | · | · | · | · | · | |
| P / Cash Flow | -0.7 | 1.2 | -3.8 | -5.3 | -644.9 | -1347.7 | -1804.0 | -10140.3 | -15415.0 | -10599.1 | -25407.7 | |
| P / FCF | -0.7 | 1.2 | · | -5.3 | -641.0 | -1344.0 | · | -10121.6 | -15327.3 | · | · | |
| EV / EBITDA | · | · | · | · | · | 295235.8 | · | · | · | · | · | |
| EV / FCF | · | · | · | · | · | -1343.9 | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | 817694.7 | · | · | · | · | · | |
| Earnings Yield | -134.0% | 26.4% | -516.2% | -60.1% | -10.5% | -0.08% | · | · | · | · | · |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $20.0K | $16M | $0 | $0 | $0 | $0 | · | · | |
| R&D Expense | $2M | $2M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $438.3K | $841.6K | $1M | |
| SG&A Expense | $1M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $1M | $880.5K | $1M | $1M | $1M | $3M | $2M | |
| Operating Expenses | $2M | $3M | $7M | $794.4K | $2M | $2M | $3M | $4M | $3M | $3M | $2M | $6M | $3M | $2M | $3M | $4M | |
| Operating Income | $-2M | $-3M | $-7M | $-794.4K | $-2M | $-2M | $-3M | $-4M | $-3M | $13M | $-2M | $-6M | $-3M | $-2M | $-3M | $-4M | |
| Interest Income | · | · | · | · | $225.2K | $277.3K | · | · | $342.1K | $223.2K | · | · | · | · | · | · | |
| Other Non-op | $-11.5K | $-47.1K | $-26.8K | $-23.7K | $-93.6K | $-16.3K | $96.8K | $-59.9K | $-18.9K | $8.1K | $-65.7K | $105.7K | $-25.9K | $14.7K | $-15.4K | $937 | |
| Pretax Income | $-2M | $-2M | $-7M | $-616.3K | $-2M | $-2M | $-2M | $-3M | $-2M | $13M | · | · | · | · | · | · | |
| Income Tax | $0 | $0 | $-650.0K | $-643.1K | $-112.1K | $123.0K | $2M | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Income | $-2M | $-2M | $-7M | $26.8K | $-2M | $-2M | $-4M | $-3M | $-2M | $13M | $-2M | $-6M | $-3M | $-2M | $-2M | $-5M | |
| EPS (Basic) | $-0.34 | $-0.58 | $-1.55 | $0.01 | $-0.54 | $-0.52 | $-2.40 | $-0.81 | $-0.53 | $4.67 | $-8.80 | $-7.30 | $-7.15 | $-1.00 | $-1.07 | $-6.03 | |
| EPS (Diluted) | $-0.34 | $-0.58 | $-1.59 | $0.01 | $-0.54 | $-0.52 | $-1.25 | $-0.81 | $-0.53 | $3.46 | $-8.80 | $-7.30 | $-7.15 | $-1.00 | $-1.07 | $-6.03 | |
| Shares (Basic) | 6,177,679 | 4,174,802 | -8,329,210 | 4,289,853 | 3,989,042 | 4,217,007 | -7,394,729 | 4,214,950 | 4,170,627 | 2,881,796 | -2,480,645 | 789,656 | 365,530 | 1,863,466 | -13,498,324 | 848,534 | |
| Shares (Diluted) | 6,177,679 | 4,174,802 | -8,463,916 | 4,361,740 | 3,989,042 | 4,217,007 | -8,152,224 | 4,214,950 | 4,170,627 | 3,891,722 | -2,480,645 | 789,656 | 365,530 | 1,863,466 | -13,498,324 | 848,534 | |
| EBITDA | $-2M | $-2M | · | $-794.4K | $-2M | $-2M | · | $-4M | $-3M | $13M | · | $-6M | $-3M | $-2M | · | $-4M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7M | $11M | $9M | $6M | $1M | $4M | $4M | $6M | $7M | $31M | $2M | $5M | $8M | $3M | $6M | $5M | |
| Short-term Investments | $10M | $3M | $8M | $14M | $20M | $20M | $23M | $23M | $21M | · | $0 | · | · | · | · | · | |
| Receivables | $1M | $2M | $2M | $1M | $2M | $1M | $601.2K | $2M | $1M | $189.9K | $0 | · | · | · | · | · | |
| Prepaid Expense | $1M | $1M | $1M | $650.4K | $957.1K | $941.5K | $2M | $470.4K | $339.6K | $206.7K | $233.4K | $239.4K | $266.5K | $488.9K | $343.1K | $260.0K | |
| Current Assets | $21M | $19M | $22M | $23M | $25M | $27M | $30M | $32M | $32M | $33M | $5M | $7M | $9M | $6M | $8M | $7M | |
| PP&E (Net) | $99.6K | $86.8K | $91.7K | $101.8K | $106.8K | $5.0K | $5.2K | $62.6K | $63.5K | $12.9K | $8.1K | $38.6K | $44.9K | $51.3K | $55.2K | $59.2K | |
| PP&E (Gross) | · | · | $117.6K | · | · | · | $6.3K | · | · | · | $14.4K | · | · | · | $172.5K | · | |
| Accum. Depreciation | · | · | $25.9K | · | · | · | $1.0K | · | · | · | $6.3K | · | · | · | $117.3K | · | |
| Intangibles | $2M | $2M | $2M | $7M | $7M | $7M | $7M | $7M | $9M | $9M | $9M | $9M | $11M | $11M | $11M | $11M | |
| Other Non-current Assets | $85.4K | $88.2K | $59.7K | $58.1K | $61.0K | $64.3K | $24.9K | $29.9K | $32.1K | $39.4K | $40.8K | $32.0K | $32.4K | $32.7K | $33.0K | $33.0K | |
| Total Assets | $24M | $21M | $24M | $30M | $32M | $34M | $36M | $39M | $41M | $42M | $14M | $16M | $20M | $17M | $19M | $18M | |
| Accounts Payable | $216.5K | $594.9K | $1M | $241.5K | $282.5K | $942.5K | $415.6K | $660.4K | $268.6K | $323.1K | $206.3K | $125.4K | $131.3K | $587.5K | $1M | $749.2K | |
| Accrued Liabilities | $2M | $2M | $2M | $2M | $3M | $4M | $5M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | |
| Current Liabilities | $2M | $3M | $4M | $3M | $3M | $5M | $6M | $4M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | |
| Capital Leases | $160.6K | $195.4K | $203.8K | $248.2K | $287.1K | $87.5K | $33.8K | $39.2K | $40.2K | $46.4K | $59.8K | $0 | $0 | $0 | $0 | $4.8K | |
| Deferred Tax | $102.2K | $102.2K | $102.2K | $490.7K | $490.7K | $490.7K | $490.7K | $779.4K | $779.4K | $779.4K | $779.4K | $689.1K | $689.1K | $689.1K | $689.1K | $802.1K | |
| Total Liabilities | $7M | $7M | $8M | $7M | $10M | $10M | $11M | $8M | $8M | $8M | $8M | $8M | $6M | $6M | $7M | $7M | |
| Common Stock | $281.9K | $277.6K | $275.3K | $272.0K | $272.0K | $267.7K | $267.7K | $267.7K | $267.4K | $262.6K | $77.1K | $76.9K | $69.1K | $19.2K | $18.0K | $10.8K | |
| Paid-in Capital | $176M | $171M | $170M | $170M | $170M | $169M | $169M | $169M | $169M | $168M | $153M | $153M | $153M | $147M | $146M | $143M | |
| Retained Earnings | $-159M | $-157M | $-154M | $-148M | $-148M | $-146M | $-143M | $-139M | $-136M | $-134M | $-147M | $-145M | $-139M | $-136M | $-134M | $-132M | |
| AOCI | $-255.8K | $-228.8K | $-246.1K | $-243.7K | $-245.8K | $-297.2K | $-282.2K | $-75.2K | $-245.7K | $-264.4K | $-182.8K | $-266.2K | $-225.9K | $-215.4K | $-182.7K | $-263.4K | |
| Stockholders' Equity | $17M | $14M | $16M | $22M | $22M | $24M | $26M | $30M | $33M | $35M | $6M | $8M | $14M | $10M | $11M | $11M | |
| Liabilities + Equity | $24M | $21M | $24M | $30M | $32M | $34M | $36M | $39M | $41M | $42M | $14M | $16M | $20M | $17M | $19M | $18M | |
| Shares Outstanding | 4,427,167 | 3,993,469 | 3,761,739 | 3,433,491 | 3,433,491 | 3,000,788 | 3,000,788 | 3,000,788 | 2,970,545 | 26,256,197 | 856,182 | 7,689,240 | 6,910,720 | 1,919,270 | 1,796,472 | 1,079,045 |
Cash Flow 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $10.7K | $10.6K | $10.5K | $10.6K | $3.4K | $318 | $5.9K | $2.1K | $6.3K | $4.9K | $7.9K | $11.3K | $22.5K | $10.1K | $10.3K | $10.3K | |
| Stock-based Comp | $109.3K | $209.5K | $234.4K | $254.4K | $262.8K | $148.6K | $160.2K | $171.2K | $149.8K | $175.4K | $182.3K | $264.9K | $171.8K | $135.9K | $45.1K | $130.2K | |
| Other Non-cash | · | $-963.4K | · | · | · | $-660.2K | · | · | · | $-8.7K | · | · | · | $-1M | · | · | |
| Operating Cash Flow | $-2M | $-3M | $-2M | $-1M | $-4M | $-3M | $-2M | $920.1K | $-4M | $14M | $-3M | $-3M | $-1M | $-3M | $-2M | $-3M | |
| CapEx | $23.5K | $5.0K | $78.2K | $431 | $32.2K | $0 | $-45.0K | $0 | · | · | $0 | $0 | · | · | · | · | |
| Investing Cash Flow | $-7M | $5M | $5M | $6M | $664.2K | $3M | $482.7K | $-2M | $-21M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Stock Issued | · | · | · | · | · | · | · | $0 | $0 | $0 | · | $0 | $343.4K | $99.0K | · | $5M | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $99.0K | · | · | |
| Financing Cash Flow | $5M | $-842 | $296 | $0 | $265.4K | $0 | $0 | $0 | $250.5K | $15M | $-486.4K | $0 | $6M | $513.2K | $3M | $5M | |
| Net Change in Cash | $-4M | $2M | $3M | $4M | $-3M | $-21.3K | $-2M | $-938.0K | $-25M | $29M | $-3M | $-3M | $5M | $-3M | $1M | $2M | |
| Free Cash Flow | · | $-3M | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Profitability 6
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | · | -12724.4% | 82.6% | · | -11858.0% | -5839.8% | -5727.4% | · | -47106.4% | |
| Net Margin | · | · | · | · | · | · | · | · | -11108.2% | 84.1% | · | -11546.2% | -5797.3% | -5583.6% | · | -65123.2% | |
| EBITDA Margin | · | · | · | · | · | · | · | · | -12724.4% | 82.7% | · | -11858.0% | -5839.8% | -5697.3% | · | -47106.4% | |
| ROA | -7.5% | -8.8% | · | 0.08% | -5.9% | -5.7% | · | -12.6% | -7.3% | 45.6% | · | -34.4% | -14.8% | -10.9% | · | -23.7% | |
| ROE | -10.7% | -12.8% | · | 0.10% | -7.8% | -7.5% | · | -17.9% | -9.5% | 59.7% | · | -61.9% | -23.3% | -17.4% | · | -36.7% | |
| ROIC | -13.1% | -18.0% | · | 0.15% | -10.3% | -10.4% | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.0 | 6.7 | · | 8.8 | 7.8 | 5.1 | · | 9.0 | 19.2 | 21.0 | · | 3.3 | 4.8 | 2.6 | · | 2.2 | |
| Quick Ratio | 7.6 | 5.5 | · | 8.0 | 7.2 | 4.8 | · | 8.7 | 17.6 | 19.8 | · | 2.6 | 4.2 | 1.6 | · | 1.6 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.5 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 168.5 | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | · | $0 | $20.0K | $16M | · | $16M | $16M | $16M | · | · | · | · | · | $0 | |
| Net Income TTM | $-7M | $-7M | · | $-8M | $-10M | $6M | · | $2M | $3M | $3M | · | $-15M | $-12M | $-13M | · | $-14M | |
| Market Cap | $12M | $8M | · | $10M | $10M | $9M | · | $11M | $12M | $167M | · | $39M | $40M | $58M | · | $60M | |
| P/E | -1.8 | -1.2 | · | -1.5 | -1.2 | 1.9 | · | -0.7 | -0.4 | -0.5 | · | -0.2 | -0.4 | -1.6 | · | -1.9 | |
| P/S | · | · | · | · | 494.4 | 0.6 | · | 0.7 | 0.8 | 10.4 | · | · | · | · | · | · | |
| P/B | 0.7 | 0.6 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 4.8 | · | 4.9 | 2.9 | 5.7 | · | 5.7 | |
| P / Tangible Book | 0.8 | 0.6 | · | 0.6 | 0.6 | 0.5 | · | 0.5 | 0.5 | 6.4 | · | · | 13.7 | · | · | · | |
| P / Cash Flow | · | -2.4 | · | · | · | -3.3 | · | · | · | 12.2 | · | · | · | -18.8 | · | · | |
| P / FCF | · | -2.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -55.1% | -84.5% | · | -66.9% | -83.3% | 53.2% | · | -141.5% | -274.3% | -188.7% | · | -420.2% | -248.1% | -61.5% | · | -52.1% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $0 | $16M | $0 | — | $0 |
| Operating Margin % | — | 28.1% | — | — | — |
| Net Income | $-11M | $4M | $-13M | $-14M | $-14M |
| Diluted EPS | $-2.64 | $0.87 | $-24.25 | $-18.55 | $-57.12 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 6.0 | 4.9 | 2.9 | 2.3 | 5.6 |
| Quick Ratio | 5.1 | 4.6 | 1.5 | 1.8 | 4.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-10M | $9M | — | $-10M | $-11M |
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Institutional owners (13F) 23 filers · $2.7M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 12 (+8 vs prior Q) | 5 (-1 vs prior Q) | 3 (-1 vs prior Q) | 2 (+1 vs prior Q) | +789K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| PERCEPTIVE ADVISORS LLC | $1,153,179 | 438,471 | 42.36% | Shares |
| ADAR1 Capital Management, LLC | $441,685 | 167,941 | 16.22% | Shares |
| CITADEL ADVISORS LLC | $305,109 | 116,011 | 11.21% | Shares |
| TWO SIGMA INVESTMENTS, LP | $233,523 | 88,792 | 8.58% | Shares |
| MILLENNIUM MANAGEMENT LLC | $195,151 | 74,202 | 7.17% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $78,437 | 29,824 | 2.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $66,020 | 25,103 | 2.43% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $52,234 | 19,861 | 1.92% | Shares |
| Scientech Research LLC | $49,302 | 18,746 | 1.81% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $34,269 | 13,030 | 1.26% | Shares |
| LPL Financial LLC | $32,875 | 12,500 | 1.21% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $31,923 | 12,138 | 1.17% | Shares |
| NORTHERN TRUST CORP | $16,314 | 6,203 | 0.60% | Shares |
| JANE STREET GROUP, LLC | $15,157 | 5,763 | 0.56% | Shares |
| UBS Group AG | $5,157 | 1,961 | 0.19% | Shares |
| Caitong International Asset Management Co., Ltd | $4,768 | 1,813 | 0.18% | Shares |
| MORGAN STANLEY | $3,703 | 1,408 | 0.14% | Shares |
| Tower Research Capital LLC (TRC) | $2,201 | 837 | 0.08% | Shares |
| SBI Securities Co., Ltd. | $673 | 256 | 0.02% | Shares |
| VANGUARD GROUP INC | $394 | 200 | 0.01% | Shares |
| HRT FINANCIAL LP | $154 | 58,612 | 0.01% | Shares |
| BlackRock, Inc. | $153 | 58 | 0.01% | Shares |
| Activest Wealth Management | $5 | 2 | 0.00% | Shares |
Company insiders 28 insiders · 9 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Brian M. Strem | President and CEO | July 1, 2026 F | 58,823 | 0 | 0 | $0 |
| Melissa Tosca | CFO | July 1, 2026 F | 26,064 | 0 | 0 | $0 |
| Sarah Romano | Chief Financial Officer | Feb. 10, 2022 F | 22,746 | 0 | 0 | $0 |
| Ryan Randall Brenneman | Chief Financial Officer | July 18, 2016 A | — | 0 | 0 | $0 |
| Stephen From | Executive Chairman | Jan. 5, 2022 F | 67,693 | 0 | 0 | $0 |
| Brenda Mann | VP of Research & Development | Nov. 2, 2021 F | 15,136 | 0 | 0 | $0 |
| MANZO MICHAEL P. | VP of Engineering | Aug. 3, 2021 F | 15,378 | 0 | 0 | $0 |
| Barbara Wirostko | Chief Medical Officer | Aug. 6, 2019 F | 403,893 | 0 | 0 | $0 |
| Michael Garanzini | Chief Commercial Officer | July 10, 2018 A | 196,250 | 0 | 0 | $0 |
| Erin Parsons | Director | June 10, 2026 A | 5,260 | 0 | 0 | $0 |
| Carmine N. Stengone | Director | June 10, 2026 A | 1,250 | 0 | 0 | $0 |
| Aron Shapiro | Director | June 10, 2026 A | 3,000 | 0 | 0 | $0 |
| David Hollander | Director | June 10, 2026 A | — | 0 | 0 | $0 |
| Lisa Walters-Hoffert | Director | June 10, 2026 A | 1,250 | 0 | 0 | $0 |
| Praveen Tyle | Director | June 10, 2026 A | 5,014 | 0 | 0 | $0 |
| Morton Goldberg | Director | Feb. 1, 2021 A | 0 | 0 | 0 | $0 |
| Thomas Hancock | Director | Feb. 1, 2021 A | 13,487 | 0 | 0 | $0 |
| Peter Greenleaf | Director | Feb. 1, 2019 A | — | 0 | 0 | $0 |
| Thomas Balland | Director | June 21, 2017 A | 10,422 | 0 | 0 | $0 |
| Mounia Chaoui | Director | March 29, 2016 A | 10,422 | 0 | 0 | $0 |
| Ventech Capital II | 10% owner | March 13, 2017 S | 1,431,814 | 0 | 0 | $0 |
| NATIXIS PRIVATE EQUITY | 10% owner | Feb. 19, 2015 C | 674,205 | 0 | 0 | $0 |
| IPSA (INNOVEN PARTENAIRES S.A.) | 10% owner | Feb. 19, 2015 C | 1,460,479 | 0 | 0 | $0 |
| Eric Joseph Daniels | — | April 1, 2026 F | 31,741 | 0 | 0 | $0 |
| Kenneth L Gayron | — | Sept. 29, 2023 A | — | 0 | 0 | $0 |
| Paul G Chaney | — | March 3, 2023 A | 91,229 | 0 | 0 | $0 |
| Franz Obermayr | — | Feb. 1, 2021 A | — | 0 | 0 | $0 |
| Bernard Malfroy-Camine | — | Feb. 1, 2021 A | 61,525 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Armistice Capital, LLC, Steven Boyd ×10 filings | Aug. 3, 2021 | — | Initial filing | Board campaign | SEC |
| IPSA (formerly Innoven Partenaires S.A.), FCPI Innoven Europe, FCPI Innoven Europe 2, FCPI Innoven Capital 2, FCPI Poste Innovation 3, FCPI Poste Innovation 5, FCPI Poste Innovation 6, FCPI La Banque Postale Innovation 1, Jean-Michel Paulhac ×3 filings | Jan. 17, 2018 | — | Initial filing | Passive investment | SEC |
| Innoven Partenaires S.A. (IPSA), Innoven 2002 FCPI N°6, Innoven 2003 FCPI N°7, FCPI Innoven Europe, FCPI Innoven Europe 2, FCPI Innoven Europe 3, FCPI Innoven Capital, FCPI Innoven Capital 2, FCPI Poste Innovation, FCPI Poste Innovation 2, FCPI Poste Innovation 3, FCPI Poste Innovation 5, FCPI Poste Innovation 6, FCPI Poste Innovation 9, FCPI La Banque Postale Innovation 1, Jean-Michel Paulhac, Thomas Balland ×2 filings | June 16, 2017 | — | Initial filing | Passive investment | SEC |
| FCPR Ventech A, FCPR Ventech B, FCPR Ventech Coinvest, FCPR Ventech Capital II, Alain Caffi, Jean Bourcereau ×2 filings | June 16, 2017 | — | Initial filing | Passive investment | SEC |
| Stephen From | March 4, 2015 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 1 ETF
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| VXF · VANGUARD INDEX FUNDS | 0.00% | 19,861 SH | Aug. 8, 2026 | Daily |